Magnum Ice Cream (NYSE:MICC) Shares Gap Down – Time to Sell?

The Magnum Ice Cream Company N.V. (NYSE:MICC)’s share price gapped down prior to trading on Monday . The stock had previously closed at $16.66, but opened at $15.81. Magnum Ice Cream shares last traded at $16.0970, with a volume of 311,894 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on MICC. BNP Paribas Exane lowered Magnum Ice Cream to a “neutral” rating in a research report on Tuesday, April 21st. Berenberg Bank raised Magnum Ice Cream to a “hold” rating in a research note on Friday, February 27th. Weiss Ratings upgraded Magnum Ice Cream from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. The Goldman Sachs Group lowered Magnum Ice Cream from a “neutral” rating to a “sell” rating in a research note on Friday, March 20th. Finally, Zacks Research upgraded shares of Magnum Ice Cream from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Magnum Ice Cream Stock Performance

The firm has a 50-day moving average price of $14.64.

Hedge Funds Weigh In On Magnum Ice Cream

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FIL Ltd purchased a new position in shares of Magnum Ice Cream during the fourth quarter valued at approximately $360,762,000. Vanguard Group Inc. bought a new position in Magnum Ice Cream during the 4th quarter valued at approximately $344,031,000. First Eagle Investment Management LLC bought a new position in Magnum Ice Cream during the 4th quarter valued at approximately $260,541,000. Norges Bank purchased a new position in Magnum Ice Cream during the fourth quarter valued at $173,632,000. Finally, Barclays PLC purchased a new position in Magnum Ice Cream during the fourth quarter valued at $156,326,000.

About Magnum Ice Cream

The Magnum Ice Cream Company N.V. engages in ice cream business. The Magnum Ice Cream Company N.V. is based in Amsterdam, Noord-Holland, Netherlands.